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KKR raises $2.2bn for its second next-gen technology growth fund

Thursday, January 16, 2020

Laxman Pai, Opalesque Asia:

American global investment firm KKR has closed its second Next Generation Technology Growth Fund at $2.2bn.

The fund will be targeting blossoming business areas such as fintech, digital media and data services in Europe, North America and Israel, KKR said.

The new fund is triple the size of the firm's first fundraising foray into the sector, which reached a $711m final close in 2016.

"Similar to its predecessor fund, NGT II is focused on generating strong returns for investors by investing in market-leading, high-growth technology companies through a combination of the majority or minority stakes. In particular, NGT II is expected to make equity checks typically greater than $50 million in thematically targeted areas, including enterprise software, security, internet / digital media, fintech, and tech-enabled and data services," it said.

"We are thrilled to see the strong support from investors globally, both new and existing for our team, our commitment to this asset class, and our differentiated approach in the sector," said KKR partner and head of its private markets products group Alisa Amarosa Wood.

The Fund received strong backing from a diverse group of new and existing global investors, including public pensions, insurance companies, family offices, high net worth individual investors and other institutional investors.

KKR will be investing more than $265 million of capital in the Fund alongside these investors t......................

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